Toronto Domin Stock Price, News & Analysis

TD Bank's 2024 Merry Money Survey reveals shifting holiday shopping trends amid economic concerns. 52% of consumers are scaling back spending due to recession anxieties, while 42% consider the election's impact on their holiday budget. Despite concerns, 79% feel confident managing their spending, with 64% planning to spend under $600 on gifts.

The survey of 2,000+ U.S. consumers shows 82% actively seeking deals, with 55% planning major purchases on Black Friday. Notable trends include a shift toward experiential gifts, particularly among younger generations, with 45% preferring experiences over physical items. Payment preferences show 42% choosing debit cards and 34% using credit cards, with rewards and security being key factors.

TD Bank's HELOC Trend Watch survey reveals homeowners are viewing their properties as key financial assets, with 66% seeing homes as generational wealth. The survey of 1,800+ homeowners shows 60% are keeping their low-interest mortgages rather than selling. Housing inventory concerns have doubled year-over-year, with 18% of owners waiting for increased supply before moving.

84% of respondents hold debt beyond mortgages, with 62% carrying $10,000+ in additional debt. Younger generations are leading in home equity usage, with 73% of Gen Z and 66% of Millennials likely to apply for HELOCs or home equity loans in the next 18 months. 54% of current HELOC users have funded renovations, focusing on cosmetic changes (40%), outdoor upgrades (37%), and eco-friendly additions (27%).

TD Bank's new survey reveals veteran-owned and -led businesses are showing cautious optimism about growth prospects. 71% cite economic conditions as their primary concern, while only 34% expect improved performance over the next year. Despite challenges, businesses see opportunities in: new customer acquisition (77%), access to capital and professional networks, and cost efficiency initiatives (52%).

The survey also highlights strong banking relationships, with 96% reporting their primary bank meets or exceeds their needs. 84% believe their bank offers cutting-edge features, with 68% prioritizing low fees and online banking features when choosing banking partners.

TD Bank has maintained its position as the #1 SBA lender in its Maine-to-Florida footprint for the eighth consecutive year in fiscal year 2024. The bank approved 4,038 SBA 7(a) and 504 loans, totaling approximately $663 million. TD secured the top ranking in eight states for 7(a) loan units and achieved the #2 position nationally.

The bank excels in SBA financing for startup franchises, medical practices, business acquisitions, partner buyouts, and owner-occupied commercial real estate. TD's success is attributed to its personalized approach and commitment to supporting small business growth through expert financial management and trusted advisory services.

TD has announced a $500,000 contribution to support relief efforts in Florida, North Carolina, and South Carolina following Hurricane Helene. The donations will be distributed to local non-profits leading recovery efforts across the three states, with $300,000 allocated to North Carolina, and $100,000 each to South Carolina and Florida.

TD is also offering an employee donation matching program, pledging to match contributions up to $50,000. The bank is providing support to affected employees through small grants and offering financial assistance to impacted customers through the TD Cares program, which includes fee refunds and other support for eligible consumers and businesses.

TD Bank has announced the launch of TD Cares, a temporary financial assistance program for customers affected by Hurricane Helene in specific regions of Florida, South Carolina, and North Carolina. The program offers support such as fee refunds for eligible consumer and business customers.

Customers seeking assistance through TD Cares can contact the bank directly with their requests. Matt Boss, Head of Consumer Banking at TD Bank, emphasized the bank's commitment to supporting the community during this challenging time, stating that their bankers are prepared to assist those in need.

For more information, customers can visit the TD Bank website, while business customers are advised to contact their relationship manager directly.

TD Bank has announced Andy Bregenzer and Jill Gateman as Co-Heads of U.S. Commercial Banking, following the upcoming retirement of Chris Giamo. In their new roles, Bregenzer will lead the Regional Commercial Bank, including Small Business, while Gateman will oversee National Commercial Banking, including Middle Market and Specialty Lending.

Bregenzer, with nearly 30 years in commercial banking, has been with TD for two decades. He previously served as EVP, Regional President for TD's NY Metro. Gateman joined TD in 2023 to lead Middle Market, Asset-Based, and Sponsor-Backed Finance business segments. She previously spent 17 years at PNC Bank as Executive Vice President and Co-Head of Corporate Banking.

Both leaders bring extensive experience in business and commercial banking, positioning them to support clients with strategic advice and industry expertise.

TD Securities (TDS) has appointed Carl Hayes as the new Head of European Cash Equities. Based in London, Hayes will report to Sharon Kim, Executive Managing Director and Region Head of Europe. This promotion supports TDS' focus on expanding its reach in European equity markets. Hayes, who joined Cowen Execution Services in 2019, has played a important role in shaping business strategy and driving execution.

The appointment aims to strengthen TDS' multi-asset capabilities and integrate market insights across asset classes. Dan Charney, Vice Chair and Co-Head of Global Markets, highlighted the team's advantage through their market-leading execution platform and award-winning content. Hayes expressed his commitment to leveraging expertise in various trading methods to enhance TDS' market position and provide value to clients.

TD Bank has been named a 2024 honoree of the Civic 50 Greater Philadelphia, recognizing its community engagement and social impact in the region. The bank scored highly in areas such as grant size, social value generation, volunteer hours, and racial equity. TD's initiatives include:

1. The TD Ready Commitment, dedicating $750 million by 2030 to drive positive change in four key areas.
2. A $1 million grant to Clarifi for affordable housing solutions.
3. A three-year Community Impact Plan providing an estimated $20 billion for diverse and underserved communities.
4. A $5 million investment in the Innovate Capital Growth Fund for minority- and women-owned businesses.
5. A $2.5 million contribution to LISC's housing program for affordable rental housing preservation.

These initiatives demonstrate TD Bank's commitment to supporting local programs and fostering inclusive communities in the Greater Philadelphia area.